Matalan owner in line for payout March 7, 2010 JOHN Hargreaves, founder of discount clothing and homeware chain Matalan, could reap a £250m dividend as part of a refinancing deal. Hargreaves is reported to be looking at a £525m refinancing after the failure of the Lancashire-based company’s £1.5bn sale last year. One of the most substantial for a British retail company, the payout would [...]
Matalan nixes £1.5bn sale on price dispute February 10, 2010 MATALAN owner John Hargreaves has abandoned an auction of the budget fashion retailer after potential buyers refused to match his £1.5bn asking price. Hargreaves, who founded the chain in Preston in 1985, appointed Goldman Sachs and PricewaterhouseCoopers to explore a sale of the business in December after receiving unsolicited offers from private equity groups. Buyout [...]
Travelport in pole position in float queue January 17, 2010 TRAVELPORT looks set to become the most expensive company to float on the stock exchange in two years. It will be amongst the first in a slew of companies seeking an IPO in the coming months. The airline and hotel reservations firm, which operates in 160 countries, has plans for flotation in London and hopes [...]
BEST OF THE BROKERS January 13, 2010 BARCLAYS Execution has initiated coverage of Barclays with a “buy” rating. The broker said revenues at BarCap should be relatively sustainable due to its diverse fixed income business and revenue growth from its organic investment programme. It also sees Barclays as the best European investment bank on tangible equity to assets. BG GROUP Collins Stewart [...]
Matalan price gets a boost January 13, 2010 FASHION and homewares retailer Matalan has boosted its £1.5bn auction by revealing further strong growth over the Christmas period. The group revealed that like-for-like sales rose 13.7 per cent in the five weeks to 2 January. The upbeat trading statement came despite tough comparatives with positive trading figures seen a year earlier. Five private equity [...]
Matalan auction boosted by Xmas sales January 12, 2010 FASHION and homewares retailer Matalan has boosted its £1.5bn auction by revealing further strong growth over the Christmas period. The group revealed that like-for-like sales rose 13.7 per cent in the five weeks to 2 January. The upbeat trading statement came despite tough comparatives with positive trading figures seen a year earlier. Five private equity [...]
CITY MOVES | WHO’S SWITCHING JOBS January 10, 2010 Office of Fair Trading The consumer watchdog has appointed Sheldon Mills, a senior associate at law firm SJ Berwin, as its new director of mergers, effective from 15 February. Mills joined SJ Berwin in 2006 from rival Jones Day. Simon Holmes, head of EU and competition at SJ Berwin, said: “While we will miss him, [...]
Private equity giants enter first stage fight for Matalan November 19, 2009 MATALAN, the discount clothing chain, is believed to have entered the first stage of its sale process as five private-equity titans go head to head in the preliminary bidding process. TPG, Blackstone, Warburg Pincus and BC Partners are all understood to have entered the first round of bidding for the retailer, which has so far [...]
Former Boots boss launches Matalan bid November 15, 2009 Former Boots chief executive Richard Baker is at the forefront of a £1.5bn private equity bid for out-of-town retailer Matalan. Advent International, where Baker was recently hired as an operating partner, is the latest name to be added to the string of private equity firms believed to be circling the retailer. Matalan, which specialises in [...]
Matalan explores a sale to private equity firms October 25, 2009 DISCOUNT clothing and homeware retailer Matalan is being circled by several private equity firms interested in taking it over, it was confirmed by the company this weekend. The retailer has appointed PricewaterhouseCoopers (PwC) to advise it after receiving a string of unsolicited approaches by firms, including CVC Capital Partners. Matalan has been given a likely [...]